Travelers 2013 Annual Report Download - page 191

THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
include workers’ compensation, general liability and commercial auto coverages, and other
risk management solutions.
•Technology serves small to large companies involved in telecommunications, information
technology, medical technology and electronics manufacturing, offering a comprehensive
portfolio of products and services. Products offered include commercial property,
commercial auto, general liability, workers’ compensation, internet liability, technology
errors and omissions coverages and global companion products.
•Public Sector Services provides insurance products and services to public entities including
municipalities, counties, Indian Nation gaming organizations and selected special
government districts such as water and sewer utilities. Products offered by this unit typically
cover commercial property, commercial auto, general liability, professional liability and
workers’ compensation exposures.
•Oil & Gas provides specialized property and liability products and services for customers
involved in the exploration and production of oil and natural gas, including operators,
drilling and well servicing contractors, supply companies and manufacturers that support
upstream operations. Products offered include workers’ compensation, general liability,
commercial auto, commercial property, control of well and other risk management solutions.
•Agribusiness serves small to medium-sized agricultural businesses, including farms, ranches,
wineries and related operations. Products offered include property and liability coverages
other than workers’ compensation.
•Target Risk Underwriting. The following units serve commercial businesses requiring specialized
product underwriting, claims handling and risk management services:
•National Property provides traditional and customized property insurance programs to large
and mid-sized customers, including office building owners, manufacturers, municipalities and
schools, retailers, and service businesses.
•Inland Marine provides insurance for goods in transit and movable objects for customers
such as jewelers, museums, contractors and the transportation industry. Builders’ risk
insurance is also offered to customers during the construction, renovation or repair of
buildings and other structures.
•Ocean Marine serves the marine transportation industry and related services, as well as
other businesses involved in international trade. The Company’s product offerings in this
unit fall under six main coverage categories: marine liability, cargo, hull and machinery,
protection and indemnity, pleasure craft, and marine property and liability.
•Excess Casualty serves small to mid-sized commercial businesses, offering mono-line
umbrella and excess coverage where the Company typically does not write the primary
casualty coverage or where other business units within the Company prefer to access the
underwriting expertise and/or limit capacity of the Excess Casualty business unit.
•Boiler & Machinery serves small to large companies, offering comprehensive breakdown
coverages for equipment, including property and business interruption coverages. Through
the BoilerRe unit, Boiler & Machinery also serves other property and casualty carriers that
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